Coinbase Executive Bullish on Bitcoin’s Future
Hassan Ahmed, the country director for Coinbase in Singapore, believes that Bitcoin is set for a bullish future in 2024. According to Ahmed, there are two upcoming catalysts that will contribute to this positive outlook. Firstly, the potential approval of a spot Bitcoin ETF in the US will lead to increased demand and further legitimize the asset class. Secondly, the upcoming halving event will reduce the block subsidy by half, resulting in a decrease in supply.
Ahmed emphasizes that the approval of a Bitcoin ETF in the US signals the growing demand and interest in the asset class, despite regulatory uncertainties. He sees this as a significant step towards destigmatizing and legitimizing cryptocurrencies.
Conclusion: Positive Prospects for Bitcoin
The upcoming events of a potential spot Bitcoin ETF approval and the halving event are expected to have a significant impact on Bitcoin’s future. These catalysts are predicted to generate explosive growth for the cryptocurrency. The approval of a Bitcoin ETF would provide a compliant channel for asset managers and allocators to access this asset class, further solidifying its legitimacy. With increased demand and reduced supply, Bitcoin is poised for a bullish trajectory in 2024.
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